George Hosfield, CFA, discusses Ferguson Wellman's quarterly strategy titled, "Inflation's Flame Flickers," which addresses the narrow market leadership, the impact of higher interest rates on inflation and how assets are priced at this stage of the economic cycle.
George Hosfield, CFA, discusses the firm's quarterly strategy titled "Stalemate," which highlights the Fed's ongoing battle to tame inflation along with our views on the health of the banking industry and capital market expectations for the balance of the year.
Director and Chief Investment Officer George Hosfield, CFA, discusses the Fed raising interest rates, peaking inflation and our view on equities and volatility across all asset classes in our Investment Strategy titled, “Balancing Act.”
Private credit has become one of the fastest growing segments of global capital markets. Once viewed as a niche alternative investment strategy, it has evolved into a significant source of financing for small and middle market companies.
Bond markets have sold off sharply in recent weeks as investors react to rising oil prices, renewed inflation concerns and growing global fiscal pressures. The U.S. 30-year Treasury yield recently moved above 5.1%, reaching levels not seen in more than two decades and reigniting concerns about the impact of higher rates on both stocks and bonds.
As expected, the March inflation report came in hot. Consumer Price Index (CPI) rose 0.9% month over month and 3.3% year over year - the largest monthly move in nearly four years.
Annual presentation from Ferguson Wellman sharing our views for the year regarding the global economy and capital markets, as well as a planning update from our wealth management team. The program originally aired on Wednesday, February 4, 2026.
As New Year’s celebrations wrap up and 2026 begins, the U.S. economy is sending signals that are difficult to reconcile: consumer sentiment is deeply negative, yet spending remains resilient.
As we look ahead to the Federal Reserve’s December 10 policy meeting, markets are pricing in a greater than 90% chance of a .25% cut in the Fed Funds rate. As my colleague Blaine Dickason wrote last week, the Fed is laser-focused on the jobs market. While this week’s labor market data points to a cooling trend, it doesn’t suggest a contraction.
We’re caught in a strange economic limbo with the U.S. employment market. Large-scale layoffs and a climb in the unemployment rate that signals a recession has not materialized; but the robust hiring that signals a healthy economy has vanished. The result is a labor market completely stuck in neutral, and the official numbers we’ve relied on for decades are looking shakier than ever.
The Federal Reserve’s independence is a cornerstone of U.S. financial stability. It underpins confidence in Treasury markets, the world’s deepest and most liquid, and supports the U.S. dollar’s role as the global reserve currency. Recent actions and statements from the White House, however, have stirred a debate over that independence and prompted a reasonable investor question: Will markets react to politics, or will they continue to focus on the data?
There’s a common belief that most of the U.S. national debt is owned by foreign countries—especially China. But the reality is far more nuanced, with most of the debt being held domestically. As of December 2024, the total U.S. national debt stood at $36.1 trillion. That number includes two main parts: debt held by the public and intragovernmental holdings. The public portion—about $28.8 trillion—is what really matters when we talk about who owns U.S. debt. The rest, around $7.3 trillion, is money the government owes itself, such as social security and Medicare trust funds.
For investors seeking income and a source of portfolio stability, municipal bonds present a compelling option. These debt instruments are issued by cities, states and local governments across the United States to finance public projects such as schools, roads and utilities.
This week, we sent this communication to all Ferguson Wellman and West Bearing clients in response to heightened market volatility. We felt that this message was also appropriate to reiterate for our weekly blog.
Labor Day marks the end of summer and is dedicated to honoring the American labor movement. The first Labor Day celebration occurred on September 5, 1882, in New York City and was organized by the Central Labor Union.
The COVID-19 crisis has been the perfect storm for commercial real estate. While the economy is showing signs of life as most of the country reopens, the shock to the commercial real estate market was unprecedented.
Please click on the below image to view the recording of the Investment Strategy webinar given on July 22 by Chief Investment Officer George Hosfield, CFA, and Brad Houle, CFA, our head of fixed income.
On Wednesday, June 10, our Chief Investment Officer, George Hosfield, CFA, and our investment team analysts Ralph Cole, CFA, Brad Houle, CFA, Peter Jones, CFA, Shawn Narancich, CFA, and Jason Norris, CFA, gave a webinar where they discussed our sector-specific outlook in a post-COVID world.
George Hosfield, CFA, chief investment officer, and Brad Houle, CFA, head of fixed income, gave a mid-quarter strategy update on May 19, 2020. To view this webinar, click the image below.
With stocks, only two things matter: earnings and what investors are willing to pay for a dollar of earnings.
This weekend, many world leaders will travel to Buenos Aires, Argentina, for a meeting of the Group of Twenty, also known as, “G20.” Although the G20 does not have the power to enforce policies, the outcomes of G20 summits have been highly influential to global policy.
